EL PASO, TX - (Uptick Newswire - April 11, 2017) - Premier
Biomedical, Inc. (OTCQB: BIEI)
Greetings From The CEO and Staff at Premier
Biomedical!
This past quarter has been a very busy and eventful one for
Premier Biomedical.
Finance and Stock Performance
- In the first quarter, we were able to clear our books of
convertible debt. The market responded favorably to that news, and
the stock price has seen a modest rise.
- Although we launched revenue-generating products in the first
quarter, the cash generated by them is not yet sufficient to
finance our volume ramp-up and new product introductions planned
(see below). As such, we secured new, more conventional equity
financing (non-toxic), at a fixed price, which will provide us with
necessary capital to execute our plans. Provisions of the
financing provide incentives to the lenders for the stock price to
appreciate, not depreciate as with toxic financing. One of those
incentives are warrants at higher prices that would result in
additional capital to the company, again at a fixed price, if
exercised.
- This past quarter, we analyzed, and ultimately turned down three
offers to buy out Premier Biomedical. The Board determined that
none of the offers was in the best interests of or provided fair
treatment of our current stockholders
- We believe that a streamlined company focusing on
industry-leading pain products is the way of the future and should
result in stock appreciation.
- I want to reiterate the obvious for those few who believe PBI
management is enriching themselves through the sale of stock: No
active board member, or member of management has sold even one
share of Premier Biomedical stock. Because we are a publicly traded
company, any such sale of stock by an insider necessitates
immediate public disclosure through the SEC. Moreover, no
active member of PBI management has received one penny in
compensation for services rendered. There are no financial
bonuses or company cars for any member of management. All
members of management, including board members, have contributed
considerable sums of money, time and effort toward the success of
this company. Their only compensation is by receipt of stock
warrants priced significantly higher than the current market, thus
giving them incentive to insure the long-term success of the
company.
Immunotherapy and Biologics.
- This past quarter we temporarily shelved our anti-cancer project,
and approached several Big Pharma companies in an effort to seek a
development partner to help bring our technology to market. This
step was absolutely necessary as the next stages of development
require testing on humanized animals and pre-clinical human
volunteers. The cost for these tests has been estimated at
$5-7 million and would require approximately 2 – 2½ years to
complete.
- The cost and timing of clinical trials would require many
additional millions of dollars with no guarantee of interest from
Big Pharma in the form of licensing of this technology in the end.
Simply stated, this is beyond our limited finances to support and
required a pivot in our product strategy towards an immediate
revenue-generating product line-up. We will continue to seek
a viable partnership to bring this very promising anti-cancer drug
to completion.
- It is true that the initial patent application for our latest
antibody was rejected by the U.S. Patent and Trademark Office, but
this was due to comingling of more than one patentable concept into
a single application. The patent attorneys and the research staff
are reviewing their options and plan on re-filing on the most
promising aspects of the intellectual property.
- Our core technology has always been centered around
immunotherapy. How we differ from the principal competitors in this
field is that we operate on body fluids extracorporeally (outside
of the body) through the use of antibodies against disease
antigens.
Pain Management.
- In January, we created and launched our web site to market and
sell our initial pain relief products. We experienced numerous
setbacks and delays in launching the sight, but were able to
finally launch the site January 31st, and the response
from consumers has been beyond our expectations. We continue
to experience minor problems as we attempted to add additional
features and improvements to the site, but are addressing these as
quickly as we can.
- In addition to selling products through our website, we have
developed several direct distributors in the Western Pennsylvania
area, many of whom have outlets in Ohio, and other surrounding
states.
- Many of our stockholders and followers have asked about the
status of our distributor agreement with the nation’s largest
on-line pharmacy. We had indicated earlier that we expected the
agreement to be signed several weeks ago, but that has not happened
due to a number of issues ranging from attorney reviews to a
complete change in the management structure at that company.
Although the agreement has been delayed, both parties are confident
that the initially proposed agreement can be signed shortly.
- This past month, we developed a presentation on our pain products
for use at a convention of independent pharmacy owners in Phoenix
in early April. We will be following up with interested independent
pharmacy owners who attended that conference in expectation of
securing additional direct distributors.
- We will continue to pursue similar distribution agreements with
large pharmacy chains, such as Rite-Aid, Walgreens, Medicine
Shoppe, etc.
- In addition to expanding distribution in North America, we have
been engaged in exploring potential partners in the Philippines,
Brazil and South Korea. The Philippines looks especially promising
since a TV program aired recently which described the launch of a
government-sponsored program to attack that country’s opioid use
and addiction epidemic. Our non-narcotic pain relief products
may be just the answer.
- In the coming quarters, we plan to study the implications of
potential expansion into Europe as well as the rest of Asia.
- In parallel to our efforts to expand our distribution network, we
are working to expand our product line. The next product we expect
to launch is a new gel pen with the same pain-relieving compounds
as our roll-on, in a convenient gel pen dispenser. Prototypes
are being prepared as we write this document, and we plan to launch
this product by the end of the 3rd Quarter of this
year.
- The next product we expect to add is an oral CBD capsule, which
we plan to market under the name Pain-Ex™. There is a lot of
development work yet to be done, not only with respect to the
product, but also the packaging, marketing, and any regulatory
obstacles that may arise.
- Subsequent generations of the capsule (Pain-Ex2™, Pain-Ex3™,
etc.) will include additional pain relievers, both natural and
synthetic, to address a wider variety and severity of pain
management. Incorporation of our patented synthetic pain management
components into capsules will most likely require FDA approval and
be marketed under the name Pain-Ex3TM.
- We are particularly excited about entering into this pain
management industry, as the current world market for this entire
segment of the healthcare industry is $112 Billion annually!
- We are one of the pioneers in this field of non-addictive,
natural pain-relievers as a substitute for conventional,
highly-addictive, opioid-laced pain medications. Due to the fact
that over 28,000 people in the U.S. alone from opioid addiction, we
believe that we are in an excellent position to attract attention
from large pharmaceutical firms.
Investor/Public Relations Programs.
- In an effort to broaden our product exposure and boost our pain
product sales, we have engaged the services of several Investor
Relations/Public Relations/Marketing firms. These include social
media marketing campaigns, e-marketing/advertising, print ads in
select publications, and agreements with relevant internet
bloggers.
- I plan to continue promoting Premier Biomedical, and providing
updates on our progress through Uptick Newswire press releases, and
monthly radio broadcasts, which have been very effective in the
past. This is in addition to the occasional Stu Taylor radio show
interviews.
- This past month, the Christian Broadcast Network (CBN) 700 Club
program aired a segment highlighting the epidemic of opioid-related
deaths in West Virginia and throughout the country. In response to
that airing, we initiated contact with CBN and forwarded our Pain
Management presentation complete with testimonials from our
customers indicating the effectiveness of our products in
eliminating pain and allowing pain sufferers to reduce or eliminate
their use of opioid pain killers. We have volunteered to
appear on this multi-national television program to explain the
benefits of our all-natural pain killers in combating this opioid
epidemic.
- This past month, I volunteered to participate on an opioid task
force sponsored by the state of Pennsylvania.
Summary.
- This past quarter we cleared our books of convertible debt,
launched a revenue-generating product line, and secured more
conventional financing with incentives for the lender to
appreciate, rather than depreciate our stock price.
- We established a number of direct distributors, including
pharmacies and health clinics.
- We are attempting to expand our distributor networks both within
the United States as well as off-shore.
- We are in the process of launching several additional pain
relieving products.
We are confident that we are in a high demand field and that we
are on the cutting edge of pain product technology. We thank
you for your continued support.
William A. Hartman
President and CEO
Premier Biomedical Inc.
(724) 633-7033
PR@premierbiomedical.com
http://www.premierbiomedical.com/
Safe Harbor Notice
Certain statements contained herein are “forward-looking
statements” (as defined in the Private Securities Litigation Reform
Act of 1995). Premier Biomedical, Inc. cautions that
statements, and assumptions made in this news release constitute
forward-looking statements and makes no guarantee of future
performance. Forward-looking statements are based on
estimates and opinions of management at the time statements are
made. These statements may address issues that involve
significant risks, uncertainties, estimates made by
management. Actual results could differ materially from
current projections or implied results. Premier Biomedical, Inc.
undertakes no obligation to revise these statements following the
date of this news release.
SOURCE: Uptick Newswire
Premier Biomedical (PK) (USOTC:BIEI)
Historical Stock Chart
From Oct 2024 to Nov 2024
Premier Biomedical (PK) (USOTC:BIEI)
Historical Stock Chart
From Nov 2023 to Nov 2024
